The financial interventions by the apex bank of Nigeria has failed to ameliorate the forex scarcity faced in the country.
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Despite recent measures by the Central Bank of Nigeria (CBN) to
ameliorate the difficulty in sourcing for dollars, the scarcity still
persists.
Checks by Daily Trust revealed that a week after CBN directed
commercial banks to open foreign exchange outlets at major airports to
sell dollars and other foreign currencies to travelers, no bank has
complied with the directive.
Findings by a correspondent who visited the Murtala Mohammed
International Airport (MMIA) yesterday indicated that none of such
outlets exists.
Instead the scarcity persists as intending passengers are still
unable to get dollars at the point of travelling. All the Bureau De
Change outlets visited by our correspondent at the international wing of
the airport claimed they had run out of stock as of the time of filing
this report.
Though naira has appreciated by about 12 per cent following the
CBN’s measures, exchanging as at yesterday at N425 at the parallel
market, the naira’s gain may be reserved because of scarcity.
For instance none of the BDC outlets like Sulah, Ibrao, NIPOST
Lane, Clean Exchange, among others at the international airports had
dollars to sell.
One of them, Kings Bureau De Change was ready to sell the forex at
N470/$1. Also, a correspondent checked at a commercial bank at the
airport but the officials said there was no dollar, saying they had run
out of stocks.
Findings at some of the roadside forex dealers within the airport showed that the US dollars exchanged for between N462- N470.
A BDC operator inside the departure hall of MMIA said, “If you look around, none of the outlets has dollars as I am talking to you. I only have pounds and Euros if you want”.
A passenger, Francis who was travelling to Dubai on Emirates
yesterday said he had been sourcing for forex for the past one month
preparatory to the trip.
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